According to the latest report from Land Title Guarantee Company (May 2009), for all of Pitkin County real estate transfers which includes Aspen and Snowmass Village and fractional sales year to date, dollar volume is down 33 percent from the same period in 2008, and the number of transactions are down 24 percent. There have been 284 transactions so far in 2009, worth almost $408 million. Still, in May real estate sales were a fraction of what they’ve been in the last five years — less than a quarter of the dollar volume recorded at the height of the market in May 2007, for example. And before this year, there were only two months in the last five years (March and November 2008) in which there were so few transactions.
By Catherine Lutz, July 2, 2009 Aspen Daily News